- Oct 22, 1999
I think the 0% interest rates, rock bottom mortgage rates, and sending out a ton of NSA cash lead to a lot of the inflation. Plus the whole, world shutting down and the collapse of global supply networks. Not to mention the massive profit taking by corporations, especially in energy.This isn't going to last forever though. The worker shortages led to inflation and less economic output, neither of which are good. Combined with the Fed's rate hikes to combat inflation, and we're staring at recession and mass layoffs, and all wage gains being erased.
But yeah, employees finally getting some raises likely had some impact on inflation. Regardless, I never said the lack of immigration was a good thing, I said it was part of the worker shortage, which has driven up wages. Even if we enter a recession, I doubt all of the wage gains will be erased.